Smart Fleet Management Market by Transportation (Automotive, Rolling Stock, Marine), Hardware (Tracking, Optimization, ADAS, and Diagnostic), Connectivity (Short, Long, and Cloud), Solution (Tracking and Optimization), and Region - Global Forecast to 2022
“The focus on enhanced safety and reduced transportation cost to fuel the demand for smart fleet management market”
The global smart fleet management market is projected to grow at a CAGR of 8.0% from 2017 to 2022, to reach USD 462.48 billion by 2022. The major factors responsible for the growth of the market include the introduction of advanced technologies such as fleet optimization and real-time monitoring systems in rolling stock, automotive, and marine transport as well as rising awareness about fleet tracking, driver monitoring, and enhanced safety.
“Asia-Pacific: High growth potential market”
The Asia-Pacific market is projected to witness the highest CAGR from 2017 to 2022. The major factors responsible for this region’s growth include increasing demand for fleet tracking systems and government laws favoring the implementation in marine transport. Additionally, the adoption of telematics application to reduce transportation cost and enhance safety along with growing demand for tracking of fleets has resulted in the growth of demand for rolling stock segment, which in turn has boosted the market for smart fleet management in this region.
“Real Time Monitoring: Technology for present and future”
Smart fleet management with tracking system uses vehicle tracking system to track the vehicles in real time. The purpose of this system is to provide effective fleet tracking, real-time online monitoring, a dedicated remote server for fleet data, and security features in a single system. This is a money-saving tool for any size business because this helps to reduce fleet idle time, measure maintenance cost, and improve driver’s behavior. The fleet management reports can also be downloaded to understand the data better or used for important decision making. For instance, managers can get the reports of fuel efficiency based on the route taken. The market for these technologies is growing rapidly, and regulatory bodies in Europe and North America are planning to mandate some of these technologies.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies, and original equipment manufacturers (OEM). The break-up of the primaries is as follows:
• By Company Type – Tier-1 - 62%, Tier-2 - 25%, and Tier-3 - 13%
• By Designation – C Level - 38%, Director Level - 37%, and Manager Level - 25%
• By Region – North America - 12%, Europe - 50%, and Asia-Pacific - 38%
The smart fleet management market is dominated by the globally established players such as Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), and Otto Maritime Limited (Singapore). The key growth strategies adopted by these players include expansion and new product development.
The report includes detailed profiles of the following companies:
Robert Bosch GmbH
Infineon Technologies AG
Precious Shipping Company Public Limited
Otto Maritime Limited
Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis (industry trends, Porter’s Five Forces, and PEST analysis), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high growth segments of the smart fleet management market, competitive landscape, high growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights with reference to the following points:
Market Development: The report offers comprehensive information about lucrative emerging markets and analyzes the smart fleet management market.
Product Development/Innovation: The report offers detailed insights into R&D activities, upcoming technologies, and new product launches in the smart fleet management market.
Market Diversification: The report provides detailed information about untapped markets, investments, new products, and recent developments in the smart fleet management market.
Competitive Assessment: The report includes an in-depth assessment of strategies, products, and manufacturing capabilities of leading players in the smart fleet management market.